Ethereum (ETH) – May 17 for BITFINEX:ETHUSD by readCrypto

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( ETHUSD 1W chart)

(1D chart)
We have to see if we can get support at 3524.70 and climb above 3720.26.

If you fall from 3118.43-3319.04, you need a short stop loss.

The flow of BTC price is expected to continue cascading down, so careful trading is required.

ETH is currently moving in the sideways section 3319.04-4121.47.

It remains to be seen whether it will decline from 3118.43-3319.04 and turn into a downtrend.


(ETHBTC 1W chart)

We need to see if we can get support and climb in the critical section, 0.072484-0.084699.
In particular, you need to make sure you can get the support at the 0.080118 point.

(1D chart)

We need to see if we can get support from 0.075399-0.077548 and climb along the uptrend line.

If you go down at 0.068951, you need a short Stop Loss.


(ETH Dominance (ETH.D) 1W chart)

We have to see if we can get support and climb at 19.16.


It is advisable to trade at your average unit price.

This is because if the price flows below your average unit price, which was on an uptrend or downtrend, there is a high possibility that you will not be able to earn a large profit due to the psychological burden.

The center of every trade starts with the average unit price you start trading.

If you ignore this, you may be trading in the wrong direction.

Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, so that the money that ultimately corresponds to the profit can regenerate the profit.

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** All indicators are lagging indicators.

So, it’s important to be aware that the indicator moves accordingly with the movement of price and volume .

Just for the sake of convenience, we are talking upside down for interpretation of the indicators.

** The wRSI_SR indicator is an indicator created by adding settings and options from the existing Stochastic RSI indicator.

Therefore, the interpretation is the same as the conventional stochastic RSI indicator. (K, D line -> R, S line)

** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator that oh92 disclosed. (Thank you for this.)

** Check support, resistance, and abbreviation points.

** Support or resistance is based on the closing price of the 1D chart.

** All explanations are for reference only and do not guarantee profit or loss on investment.

Explanation of abbreviations displayed on the chart

R: A point or section of resistance that requires a response to preserve profits

S-L: Stop Loss point or section

S: A point or segment that can be bought for profit generation as a support point or segment

(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment transactions. It is a short-term investment perspective.)

GAP refers to the difference in prices that occurred when the stock market, CME , and BAKKT exchanges were closed because they do not trade 24 hours a day.

G1: Closing price when closed

G2: Market price at the time of opening

(Example) Gap (G1-G2)

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